Jeff,Sounds like a good Subject 2 deal assuming the house is worth at least 37,500 and their note is for $14K, especially if they will wait for their money in order to get out of their mess.

there have been some good response so far, I just wanted to add my .2 cents simply b/c again it's by far my favorite strategy.I only wholesale deals that I've shorted simply b/c if I purchase a short sale for 100k.....and then rent it out blah blah blah, well my cash on cash return is low b/c I paid out of pocket 100k.However............if I take over Sub2 and pay minimal out of pocket like closing cost and maybe a few bucks called 'uhaul money' for a moving van, well then we'll say im in it for 5-6k at the most, then just like you said I make that right back with option money from a tenant buyer and then cashflow every month.

I'm learning that tenants get a very fair share of rights in NJ and that evictions can extend many months (the worst I heard of was six).Has anyone determined the optimal/quickest way to get non paying tenants evicted.By this I mean:- up front screening (credit/employ check/crim. bg)- stronger lease clauses- security deposits, etc- tactics- lawyersIf anyone has devised a process for minimizing eviction time and lost rent I'd like to hear from them.Thanks

The outlook for 2009 will not be up for discussion until Obama gets into office and we have the "first 100 days" pass.There is a lot of money / deal-makers waiting for that hurdle to pass.I'm hearing 'We have cash but are not looking to buy until 3rd or 4th qtr of 2009.'

In the next few days, we'll additionally make it so your company's logo appears on your personal profile.So . . . what are you waiting for?

I've been waiting for this moment for a year.

But, like most sheeple, those that attend these seminars never bother to actually do any research on the people selling them the crap.I personally am still waiting to hear how Kiyosaki rolled over a 1031 exchange into a commercial property like he said he did in that first book.

v=eg8LhxYqBJs&feature=related wait till Mr Obama can not deliver what he promised The 2 rules in our world right now All the money is gone It is not coming back, there is no "sherriff" to get it back either.

He says it's best to wait a little longer, as he's sure they will drop another .25, most likely .50% in the future.

My experience is that banks don't come off their listing prices very much, so you have to wait til they drop to a good price them move quickly.